This attendee said one primary concern was whether nonbank Ginnie issuers would have the financial wherewithal to make advances to MBS investors in the event of another financial crisis.
Edens is a principal and co-chairman of Fortress Investment Group, a publicly traded investment fund that happens to own 66.2 percent of Nationstar’s stock.
As Tim Rood of The Collingwood Group noted: An investor can buy a mortgage at 65 cents on the dollar, “notify the borrower they are eligible for a note mod down to 80 cents on the dollar and voila!”